Arsenal's transfer activity so far this summer has left little room for excitement for fans. July is around the corner, meaning ArseneWenger and company will have two months to complete the necessary deals to strengthen the squad. Rumours suggest one big deal may be in the offing, but that move has to be taken with a grain of salt.

Numerous sources, including Majid Mohamed of the Independent and David Kent of the Daily Mail, suggest that Arsenal are the front-runners for the signature of Gonzalo Higuain.

Those types of rumours have popped up in relation to other Arsenal transfer targets before, and recently too. The strength of those claims comes from quotes by Gonzalo Higuain's brother and agent, Nicolas Higuain. That definitely adds credibility to the situation.

Still, Arsenal fans may have to wait another week to see if their wildest dreams will come true, at least where that transfer is concerned.

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Will Gonzalo Higuain be Arsenal's first blockbuster signing in the last few years?

Even if that deal is concluded, there is still plenty of transfer activity that Arsenal needs to complete. A true defensive midfielder is a necessity. Meanwhile, there is still dead weight to get rid of and futures to sort out.

Arsenal's need for a true defensive midfielder is obvious, especially with the oft-injured AbouDiaby struggling again in 2012/13, Mikel Arteta aging, and question marks over Francis Coquelin and Emmanuel Frimpong. In truth, Wenger should take the ruthless route and rid himself of Diaby, as he needs to do with others.

There are good options for Arsenal in the defensive midfield department, with the Express linking the club with a move for Real Sociedad's AsierIllarramendi.

How Do You Think Arsenal's Transfer Window Will Turn Out?

Same old Arsenal, all talk and no actionOne big signingTwo or more big signings to cover key areasAll the right moves, including outgoing transfersSubmit Votevote to see results

How Do You Think Arsenal's Transfer Window Will Turn Out?

Same old Arsenal, all talk and no action

28.1%

One big signing

19.2%

Two or more big signings to cover key areas

33.3%

All the right moves, including outgoing transfers

In the dead-weight department, Sebastian Squillaci, Denilson and Andrei Arshavin have already parted ways with the club, but a handful remain. Those include MarouaneChamakh, Park Chu Young and Andre Santos.

Along with those players, the futures of Gervinho, Lukas Podolski and Johan Djourou are seemingly up in the air. All those players have been linked with moves away from the club.

Djourou's exit looks likely, with the Guardian reporting that Arsenal are ready to offload him, but it remains to be seen how the other players will be dealt with.

The likes of Chamakh and Santos won't be missed, but Wenger will be scrambling for replacements should Gervinho or Podolski go searching for greener pastures.

If the Higuain rumours are true, then Arsenal can be forgiven for seemingly playing the waiting game. It does render them subject to a more disastrous transfer folly, though, which is failing to pull the trigger.

Should that deal continue for another week, or longer, Arsenal will have less time to complete other incoming transfers. Then there's also the dead weight and possible departures to consider.

That may result in a similar situation to the Gunners transfer situation at the beginning of the 2011/12 season. The Gunners may have more money in hand this time around, but that won't necessarily play in their favour.

The Gunners may get a big signing by the end of next week, but that's still not enough to get excited about.

There will still be plenty for Arsenal to sort out before the transfer period ends in order to really change the status quo.